Common use of Co-Trustees and Separate Trustee Clause in Contracts

Co-Trustees and Separate Trustee. Unless an Event of Default shall have occurred and be continuing, at anytime or times, for the purpose of meeting the legal requirements of the Trust Indenture Act or of any jurisdiction in which any part of the Trust Property may at the time be located, the Depositor and the Administrative Trustees, by agreed action of the majority of such Trustees, shall have power to appoint,and upon the written request of the Administrative Trustees, the Depositor shall for such purpose join with the Administrative Trustees in the execution,delivery, and performance of all instruments and agreements necessary or proper to appoint, one or more Should any written instrument from the Depositor be required by any co-trustee or separate trustee so appointed for more fully confirming to such co-trustee or separate trustee such property, title, right, or power, any and all such instruments shall, on request, be executed, acknowledged and delivered by the Depositor. Every co-trustee or separate trustee shall, to the extent permitted by law, but to such extent only, be appointed subject to the following terms, namely:

Appears in 2 contracts

Samples: Expenses and Liabilities (Lincoln National Capital Vi), Trust Agreement and Agreement (Lincoln National Capital Vi)

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Co-Trustees and Separate Trustee. Unless an Event of Default shall have occurred and be continuing, at anytime any time or times, for the purpose of meeting the legal requirements of the Trust Indenture Act or of any jurisdiction in which any part of the Trust Property may at the time be located, the Depositor and the Administrative Trustees, by agreed action of the majority of such Trustees, shall have power to appoint,, and upon the written request of the Administrative Trustees, the Depositor shall for such purpose join with the Administrative Trustees in the execution,, delivery, and performance of all instruments and agreements necessary or proper to appoint, one or more Should any written instrument from Persons approved by the Depositor be required by any Property Trustee either to act as co-trustee jointly with the Property Trustee, of all or any part of such Trust Property, or to the extent required by law to act as separate trustee so appointed for more fully confirming of any such property, in either case with such powers as may be provided in the instrument of appointment, and to vest in such co-trustee Person or separate trustee such Persons in the capacity aforesaid, any property, title, rightright or power deemed necessary or desirable, or power, any and all such instruments shall, on request, be executed, acknowledged and delivered by the Depositor. Every co-trustee or separate trustee shall, to the extent permitted by law, but to such extent only, be appointed subject to the following terms, namely:other provisions of this Section. If the Depositor does not join in such appointment

Appears in 1 contract

Samples: Trust Agreement (Associates First Capital Iii)

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Co-Trustees and Separate Trustee. Unless an Event of Default shall have occurred and be continuing, at anytime or times, for the purpose of meeting the legal requirements of the Trust Indenture Act or of any jurisdiction in which any part of the Trust Property may at the time be located, the Depositor and the Administrative Trustees, by agreed action of the majority of such Trustees, shall have power to appoint,and upon the written request of the Administrative Trustees, the Depositor shall for such purpose join with the Administrative Trustees in the execution,delivery, and performance of all instruments and agreements necessary or proper to appoint, one or more Should any written instrument from the Depositor be required by any co-trustee or separate trustee so appointed for more fully confirming to such co-trustee or separate trustee such property, title, right, or power, any and all such instruments shall, on request, be executed, acknowledged and delivered by the Depositor. Every co-trustee or separate trustee shall, to the extent permitted by law, ,but to such extent only, be appointed subject to the following terms, namely:

Appears in 1 contract

Samples: Expenses and Liabilities (Lincoln National Capital Vi)

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